Technical analysis

Discussion in 'Educational Resources' started by charlotte_daily, Sep 1, 2023.

  1. Jzwu2017

    Jzwu2017

    In trading nothing works 100%. There are so many variables so that no single factor, e.g. an indicator, or technique, e.g., TA will make one a profitable trader.

    Let’s say you have a strong edge on TA that works 80% of the time, which is a very high probability. If you don’t control your position size/risk well during the other 20%, you will lose back all the previous winnings. In addition, the market changes every day/week/month/year so your edge will change for better or worse as well. Everything in trading is a moving target and that makes trading so hard and fascinating at the same time.

    That’s why becoming a consistent profitable trader is so difficult, not that we don’t have winning trades. Many traders have a 50%+ win rate but are still net losers.

    Therefore, the answer to OP’s question is all TA courses are both good (work sometimes) and bad (don’t work sometimes). With that said it definitely helps to learn TA nonetheless.
     
    Last edited: Sep 2, 2023
    #11     Sep 2, 2023
    Peter8519 and comagnum like this.
  2. deaddog

    deaddog

    In a tutorial quite a while back Linda Bradford Raschke suggested spending a week just watching the markets. Write the price down every 5 minutes. See if you don't develope a sense of where the market is trending.
     
    #12     Sep 2, 2023
  3. Hello deaddog,

    I agree with this.
     
    #13     Sep 2, 2023
    deaddog likes this.
  4. I think before you look into a TA course, I think you need to ask the question

    what evidence is there that TA has predictive power?
    How do I know?
    How can I be sure?

    I think that is a better starting question.

    Not saying it does or doesn't work, but it's something to think about.
     
    #14     Sep 2, 2023
  5. I think this is a bit silly.

    How do you actually know what a "sense" is? How do you quantify it to ensure you are not just thinking there is something there that is not?

    Can we objectively beforehand define what a "sense" is?
     
    #15     Sep 2, 2023
    murray t turtle likes this.
  6. Well, you SHOULD be (making money with TA)... I've given you the keys to the city and you've what, done nothing with it?
     
    #16     Sep 2, 2023
    semperfrosty, SimpleMeLike and Darc like this.
  7. Actually not. Many "believe" they know TA, but they really don't. That's why so many believe "TA doesn't work". In fact... TA WORKS LIKE A SON-OF-A-BITCH... right in front of their eyes yet they can't seem to get a handle on it.

    So lemme give it to you again...

    "Buy Support
    Sell Resistance
    Chase breakouts
    Trade with stops".

    If you're not doing that, your chances of success are slim.
     
    #17     Sep 2, 2023
  8. deaddog

    deaddog

    To be different you gotta do different.
    Try it before you dismiss it as silly.
    Make sense? :) LOL
     
    #18     Sep 2, 2023
    murray t turtle and comagnum like this.
  9. I’d say getting your CMT would be a good idea if you want TA training
     
    #19     Sep 2, 2023
  10. M.W.

    M.W.

    Almost as valuable as investing 4 years in college to obtain a BA in social justice.

     
    #20     Sep 2, 2023
    murray t turtle likes this.